Dona Ferentes
BHINNEKATUNGGAL IKA
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S2R - S2 Resources
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Sean K
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This is very unexciting.
Soil sampling. Wow.
I bought this because finicky told me to, but I also thought they had all the data and drilling conducted around Fosterville by the previous owners. Hundreds of holes that they could use to vector in on and diamond drill into a Swan Zone. Now, they're soil sampling and doing IP so they can put a few aircore and/or RC holes in the ground. They will not find a Swan Zone at 2km depth...
Soil sampling. Wow.
I bought this because finicky told me to, but I also thought they had all the data and drilling conducted around Fosterville by the previous owners. Hundreds of holes that they could use to vector in on and diamond drill into a Swan Zone. Now, they're soil sampling and doing IP so they can put a few aircore and/or RC holes in the ground. They will not find a Swan Zone at 2km depth...
What I said last month - also Valkea resources DD results out Feb from Finland (44.6% owned by S2) and Tensor induced polarisation/magnetotelluric (TIP/MT) geophysical surveys start this week over the copper-gold porphyry target drilled in late 2024• Aim is to map potential hydrothermal alteration zones around the fringes of the recently drilled magnetic target to guide location of potential follow up drill hole and In addition to the above, the Company is also assessing the exploration merits of areas where underground development by Agnico Eagle indicates the potential for gold mineralisation proximal to, or crossing over, the tenement boundary onto S2’s ground...Agnico mine expansion (Sustained Operations Project) hearing results out any day...
Sean K
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Looks like they're going to roll the dice and throw a dart at a slightly different interpretation of the geophysics of this anomaly which could be anything. Not sure if they've got enough money for another 1.3km DD hole. Especially when all their cash should be spent putting holes around Fosterville.
3.47 million as of end last quarter first deep hole at Glenlogan was around 500k. This is also shallower than the anomalism encountered in the first drill hole, which may have drilled into the rootzone of something closer to surface.
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Oui very good, I like it's chances for a mini rally towards the neckline considering it seems to be confirming the break today of that mini downtrend you've drawn. Not my kind of stock lately - prefer producers (or selling or doing nothing)
Held
Held
Spec end of town for me please..
I was loaded up in CHN when they discovered Julimar March 2020 that was completely out of left field as focus was on Vic Gold fields (Now FAL spinout) with Covid weighing heavily on the markets at the time and DOM in the 2007 Gold rally that sent it up x 15 before KCN takeover Now waiting for this ugly duckling to sprout "Swan" wings LOL and fly towards the heavens... Certainly has the potential. They are having trouble with land access at Fosterville like so many others but will now concentrate around Mayreef with shallower drilling. 2025 should be a good year for S2R IMO DYOR....GL
I was loaded up in CHN when they discovered Julimar March 2020 that was completely out of left field as focus was on Vic Gold fields (Now FAL spinout) with Covid weighing heavily on the markets at the time and DOM in the 2007 Gold rally that sent it up x 15 before KCN takeover Now waiting for this ugly duckling to sprout "Swan" wings LOL and fly towards the heavens... Certainly has the potential. They are having trouble with land access at Fosterville like so many others but will now concentrate around Mayreef with shallower drilling. 2025 should be a good year for S2R IMO DYOR....GL
3rd Time lucky maybe..
Valkea (S2R 45%) 2000 mtre Finland exploration results out any day from now
5000 metres S2R Drilling Yeungroon project in the central Victorian goldfields results out end March/April
Agnico 10 year Mine extension Minister decision out any day that may entice Agnico to start looking over the fence
Glenlogan - A more detailed dipole-dipole array IP survey is being planned to provide optimal spatial resolution of the chargeability and resistivity anomalies to identify the best location for drill testing.
Potential DB in play but needs to get a hurry along with volume before its invalidated
Sean K
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S2R are rolling the dice and throwing a dart at some land that previously produced crap.
I'm sure this will be the same as their drill program at Fosterville where they've failed to get permission to drill holes where they need to drill holes and be restricted to digging next to the road side so as to not disturb any blue banded bandicoots.
But, who knows, maybe they'll strike oil.
The project covers approximately 25 strike kilometres of the Avoca Fault (see Figure 1), which is themajor crustal boundary between the Bendigo Zone (to the east) and the Stawell Zone (to the west),and is located within the Pitfield Plains goldfields, mined between the late 1800s and 1908, with numerous occurrences of alluvial “deep-lead” mine workings and also hardrock gold mineralisation atthe Glenfine South mine, which produced 43.7 thousand ounces of gold at an average grade of 16 g/t gold (see Figure 2).
I'm sure this will be the same as their drill program at Fosterville where they've failed to get permission to drill holes where they need to drill holes and be restricted to digging next to the road side so as to not disturb any blue banded bandicoots.
But, who knows, maybe they'll strike oil.
The project covers approximately 25 strike kilometres of the Avoca Fault (see Figure 1), which is themajor crustal boundary between the Bendigo Zone (to the east) and the Stawell Zone (to the west),and is located within the Pitfield Plains goldfields, mined between the late 1800s and 1908, with numerous occurrences of alluvial “deep-lead” mine workings and also hardrock gold mineralisation atthe Glenfine South mine, which produced 43.7 thousand ounces of gold at an average grade of 16 g/t gold (see Figure 2).
I was in CYL when they had a dip at Block 4 and I've kept my eye on Fosterville but if S2 can't get access to drill then it's going to be absolute fizzer. Are the farmers holding out for more money? The market doesn't like what's happening and that's a shame because when they got Block 4 and a couple of years later the Exploration Licence, the share price spiked to over 20 cents on both occasions.
Sean K
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It's getting land access and Victoria's laws on exploration. Originally, the land access decisions were based on crop timings. But over a couple of cropping cycles, that was obviously a lie. Who knows what the local Aboriginal land (sea, air and space) council says what can and can't happen. The decision to do 'road side drilling' is madness. It actually makes me wonder why Agnico didn't get the licenses for the surrounding blocks. Maybe they didn't get them because they knew they couldn't drill where they wanted and pulled out?
That's a huge negative for sure. Bennett keeps buying smallish parcels (small for him 100,000 at a time) so I wonder what that's all about? The drilling is risky enough but not getting access to where you need to drill is a game changer. Great area but if you can't drill it then it's worthless.
Could Agnico be talking to farmers or Aboriginal Council?
Sean K
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Yes, Liz is buying $5-30K parcels here and there which is chicken feed for him/her. Makes you wonder.
It's quite clear that they can't get approval, from whoever, to drill DD holes where they want to.
Agnico is a very big company, with very deep pockets.
There's probably less political risk in West Africa than in the Socialist State of Victoria.
I'll get interested if this starts trading in the 4's, the 5's are nearby so we never know
For a company that's supposed to have one of the best assets around in Fosterville there's something seriously wrong somewhere but in the 4's it'd be worth a punt.
For a company that's supposed to have one of the best assets around in Fosterville there's something seriously wrong somewhere but in the 4's it'd be worth a punt.
Block 4 is not all about Goornong South they started there because that's where Agnico left off before they lost the right to explore on it.
They have just recently signed land access agreements at the Rasmussen’s area near Mayreef....
Two of the DDIP chargeability anomalies are in the Rasmussen’s area where the Company has a drilling access agreement in place. These will be drilled with a combination of air core, reverse circulation (RC)and diamond drilling. Plans are being finalised to mobilise a rig to site in three to four weeks, once all required approvals have been received.
There sale of the Finland assetts to Valkea are already in the money up 1.4 million CAD....
Valkea resources has only 32 million SOI and traded up from a extended consolidation period of around 0.40c to 0.50c CAD last Thursday increasing the mkt cap from 12.58 million CAD to around 16 million CAD.. The deal was completed at an almost all time low and Valkea has traded in the high $2.00's back in 2022.....So a lot of upside in this investment where they hold 44%....
Look I could go on and on but at the end of the day we are playing the high risk spec end of the market by investing in shares like S2R bit like CHN before they went on to discover Julimar but that still has many ??? -
DB I highlighted before was in the 2% range at 0.62c but the price has since come back and tested strongly the 0.061c previous all time low and IMO the bottom is in so GL trying to get these below 0.061c....
makes me wonder why Agnico didn't get the licenses for the surrounding blocks. Maybe they didn't get them because they knew they couldn't drill where they wanted and pulled out?
Some homework - go up to the map you posted and find the small parcel of land that S2R does not hold it is highlighted in Gold dashes and tell me who is now hotly contesting that small permit for the right to explore... Tip there are 3....
my argument is that if that small parcel of land is currently being hotly contested for the right to explore then the other 99% completely surrounding the Fosterville mine must be and most definitely is worth something..
Current VIC laws
No, in Victoria, a farmer cannot completely stop a company with an exploration licence from exploring their land, but they do need to provide written consent before any exploration activities can take place; if an agreement cannot be reached, the matter can be escalated to a tribunal to determine access arrangements and compensation, with the farmer not having the power to outright veto exploration activities on their land....
MB is a passive negotiator which in the long run will work out better than having to do the above....
If a swan is found the farm land will be purchased for twice the amount that it is worth exactly the same as what CHN did....
The Yeungroon area they are drilling now had a lot of exploration completed by Outback Gold now Valkea resources however they only went to basement rocks with an average depth of 40 metres - S2R are drilling much deeper with air core to try and intersect the Au veining that maybe there creating the lower grade halo with pathfinder elements....
In the end its all just exploration with a much higher percentage of failure than success....GL
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Sean K
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Thanks for the homework and the GL, we'll need it.
Its Agnico - S2R - Outback Gold now Valkea resources..
If Outback win it will be included in the Silverspoon tenement in the recent deal made between the 2 shown above in the announcement you posted its just to the right of the Fosterville mine highlighted in Gold outline .... hence why the contested is Gold dashed.
All this is up on the VIC Earth resources website
They all applied on the same day almost 2 years ago which is about the time it takes for the VIC Govt regulatory body to make a decision.....